Board Change • Jun 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa L. Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: US$0.12 (vs US$0.83 in 1Q 2025) First quarter 2026 results: EPS: US$0.12 (down from US$0.83 in 1Q 2025). Revenue: US$326.2m (down 2.2% from 1Q 2025). Net income: US$6.14m (down 86% from 1Q 2025). Profit margin: 1.9% (down from 13% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Global Energy Services industry. Announcement • May 06
Tidewater Inc. Reiterates Earnings Guidance for the Year 2026 Tidewater Inc. reiterated earnings guidance for the year 2026. For the year, the company is comfortable reiterating 2026 revenue guidance of $1.43 billion to $1.48 billion. Announcement • Apr 30
Tidewater Inc., Annual General Meeting, Jun 16, 2026 Tidewater Inc., Annual General Meeting, Jun 16, 2026. Announcement • Apr 28
Tidewater Inc. to Report Q1, 2026 Results on May 04, 2026 Tidewater Inc. announced that they will report Q1, 2026 results After-Market on May 04, 2026 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 20
Darron M. Anderson Announces Not Stand for Re-Election to the Board of Tidewater Inc On March 17, 2026, Darron M. Anderson notified the Board of Directors (the “Board”) of Tidewater Inc. (the “Company”) of his intent to not stand for reelection as a Director of the Board at the Company’s 2026 Annual Meeting of Stockholders (the “2026 Annual Meeting”). Mr. Anderson’s decision not to stand for reelection did not result from any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. Mr. Anderson will continue his role as Director and member of the Audit Committee and Safety & Sustainability Committee of the Board until the expiration of his current term at the 2026 Annual Meeting. In connection with Mr. Anderson’s resignation as a director, the size of the Board of Directors will be reduced from eight to seven Directors. New Risk • Mar 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings are forecast to decline by an average of 9.1% per year for the foreseeable future. Announcement • Mar 03
Tidewater Inc. Updates Earnings Guidance for the Year 2026 Tidewater Inc. updated earnings guidance for the year 2026. For the year, the company now expects revenue to be in between $1.43 billion to $1.48 billion. Board Change • Mar 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 27
Tidewater Inc. to Report Q4, 2025 Results on Mar 02, 2026 Tidewater Inc. announced that they will report Q4, 2025 results After-Market on Mar 02, 2026 Announcement • Feb 23
Tidewater Inc. (NYSE:TDW) entered into a definitive agreement to acquire Wilson, Sons Ultratug Participações S.A. from Wilson Sons S.A., Ultranav International II, S.A., and Remolcadores Ultratug Ltda for $500 million. Tidewater Inc. (NYSE:TDW) entered into a definitive agreement to acquire Wilson, Sons Ultratug Participações S.A. from Wilson Sons S.A., Ultranav International II, S.A., and Remolcadores Ultratug Ltda for $500 million on February 22, 2026. Tidewater Inc. will pay an aggregate cash purchase price of $500 million on a debt free, cash free basis, subject to adjustments, including the assumption of WSUT’s existing debt. It is also anticipated that WSUT’s existing debt of approximately $261 million (as of September 30, 2025) provided by BNDES and Banco do Brasil will be rolled over as part of the Transaction.
The Transaction was unanimously approved by Tidewater’s Board of Directors and subject to required regulatory approvals and other customary closing conditions including approval from the Brazilian Antitrust Authority (CADE). The expected completion of the transaction is late in the second quarter of 2026.
Piper Sandler Companies (NYSE:PIPR) acted as financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP and Machado, Meyer, Sendacz e Opice acted as legal advisor for Tidewater Inc. Board Change • Feb 10
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 11
Tidewater Inc. Updates Earnings Guidance for the Year 2025 and Initiates Earnings Guidance for the Year 2026 Tidewater Inc. updated earnings guidance for the year 2025 and initiated earnings guidance for the year 2026. For the year 2025, the company expects revenue in the range of 1.33 billion to $1.35 billion and full-year margin guidance to 49% to 50%.
For the year 2026, the company expects revenue in the range of 1.32 billion to $1.37 billion and full-year 2026 margin guidance of 48% to 50%. Announcement • Nov 04
Tidewater Inc. to Report Q3, 2025 Results on Nov 10, 2025 Tidewater Inc. announced that they will report Q3, 2025 results After-Market on Nov 10, 2025 Board Change • Sep 10
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Mex$1,153, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Energy Services industry globally. Board Change • Aug 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 05
Second quarter 2025 earnings released: EPS: US$1.47 (vs US$0.96 in 2Q 2024) Second quarter 2025 results: EPS: US$1.47 (up from US$0.96 in 2Q 2024). Revenue: US$341.4m (flat on 2Q 2024). Net income: US$72.9m (up 45% from 2Q 2024). Profit margin: 21% (up from 15% in 2Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Global Energy Services industry. Announcement • Jul 29
Tidewater Inc. to Report Q2, 2025 Results on Aug 04, 2025 Tidewater Inc. announced that they will report Q2, 2025 results After-Market on Aug 04, 2025 Board Change • Jul 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 08
Tidewater Inc. Appoints Piers Middleton as Executive Vice President and Chief Operating Officer, Effective July 1, 2025 On June 30, 2025, Tidewater Inc. announced that Piers Middleton, 52, has been named Executive Vice President and Chief Operating Officer of the Company, effective July 1, 2025. From June 2024 until his appointment, Mr. Middleton, served as the Company’s Executive Vice President and Chief Commercial Officer. From June 2023 until June 2024, he served as the Company’s Senior Vice President and Chief Commercial Officer, and from September 2020 until June 2023, he served as the Company’s Vice President, Sales and Marketing. Prior to joining the Company, Mr. Middleton was a Managing Director at Clarksons PLC (London: CKN), a global company providing various services in the maritime industry, including brokering, finance, port services and research, where he founded and lead the global Offshore & Newbuilding Divisions for over 19 years. He began his career in 1996 with Derrick Offshore Ltd., which was a leading international shipbroker specializing in the offshore energy and subsea cable industries that merged with Pareto JGO Shipbrokers in 2014. Mr. Middleton has a Bachelor of Arts with Honors in Ancient History and Classical Archaeology from the University of Warwick in the UK, completed the Corporate Governance Program at UCLA in 2024 and graduated from the Executive Program at UCLA in February 2025. Announcement • Jun 12
Tidewater Inc. Announces That David Darling to Cease as Executive Vice President & Chief Operating Officer, Effective June 30, 2025 Tidewater Inc. announced that David Darling, 70, Executive Vice President & Chief Operating Officer, will cease serving in his role as an executive officer of the Company effective June 30, 2025, as part of a long-term plan to facilitate the orderly succession of the Company’s executive team. Mr. Darling will continue to provide services to the Company over the next 18 months to support the transition of his responsibilities but will no longer be in an executive decision-making or policy-setting role. Announcement • May 06
Tidewater Inc. Reiterates Earnings Guidance for the Year 2025 Tidewater Inc. Reiterated earnings guidance for the year 2025. For the year, the company expects revenue of $1.32 billion to $1.38 billion and gross margin guidance of 48% to 50%. Announcement • Apr 29
Tidewater Inc. to Report Q1, 2025 Results on May 05, 2025 Tidewater Inc. announced that they will report Q1, 2025 results After-Market on May 05, 2025 Announcement • Apr 28
Tidewater Inc., Annual General Meeting, Jun 05, 2025 Tidewater Inc., Annual General Meeting, Jun 05, 2025. Announcement • Feb 28
Tidewater Inc. Provides Earnings Guidance for the Year 2025 Tidewater Inc. provided earnings guidance for the year 2025. For the year, the company expects revenue of $1.32 billion to $1.38 billion. Announcement • Feb 21
Tidewater Inc. to Report Q4, 2024 Results on Feb 27, 2025 Tidewater Inc. announced that they will report Q4, 2024 results After-Market on Feb 27, 2025 Announcement • Nov 08
Tidewater Inc. Updates Revenue Guidance for the Year 2024 Tidewater Inc. Updated revenue guidance for the year 2024. For the period, the company updated revenue guidance to $1.33 billion to $1.35 billion. Announcement • Nov 01
Tidewater Inc. to Report Q2, 2025 Results on Nov 07, 2024 Tidewater Inc. announced that they will report Q2, 2025 results After-Market on Nov 07, 2024 Announcement • Aug 09
Tidewater Inc. Updates Revenue Guidance for the Year 2024 Tidewater Inc. Updated revenue guidance for the year 2024. The company updated full-year revenue guidance to $1.39 to $1.41 billion. Announcement • Aug 01
Tidewater Inc. to Report Q2, 2024 Results on Aug 06, 2024 Tidewater Inc. announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 Announcement • Nov 09
Tidewater Inc. (NYSE:TDW) announces an Equity Buyback for $35 million worth of its shares. Tidewater Inc. (NYSE:TDW) announces a share repurchase program. Under the program, the company will repurchase up to $35 million worth of its shares. The program will be valid for four months. New Risk • Nov 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (13% increase in shares outstanding). Significant insider selling over the past 3 months (Mex$46m sold). Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: US$0.50 (vs US$0.12 in 3Q 2022) Third quarter 2023 results: EPS: US$0.50 (up from US$0.12 in 3Q 2022). Revenue: US$299.3m (up 56% from 3Q 2022). Net income: US$26.2m (up 387% from 3Q 2022). Profit margin: 8.8% (up from 2.8% in 3Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Global Energy Services industry. Recent Insider Transactions • Sep 13
Executive VP & COO recently sold Mex$23m worth of stock On the 6th of September, David Darling sold around 20k shares on-market at roughly Mex$1,186 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$23m. This was David's only on-market trade for the last 12 months. New Risk • Aug 24
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: Mex$23m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (14% increase in shares outstanding). Significant insider selling over the past 3 months (Mex$23m sold). Announcement • Aug 09
Tidewater Inc. Reiterates Earnings Guidance for the Year 2023 Tidewater Inc. reiterated earnings guidance for the year 2023. For the year, the company expects annual guidance of approximately $1.03 billion of revenue. Announcement • Jun 30
Tidewater Inc. Appoints Dick H. Fagerstal as Chairman of the Board Tidewater Inc. announced that Dick H. Fagerstal has been appointed non-executive Chairman of the Board. In addition, the Board has reduced the size of the Board from nine to eight members. Mr. Fagerstal serves as the Independent Director, Chairman of the Audit Committee, member of the ESG Committee of Valaris Limited since April 2021. He previously served as Executive Chairman of the Global Marine Group, based in Chelmsford, United Kingdom, a subsea cable installation and maintenance business operating globally in the telecoms, offshore renewables, and oil and gas sectors, from February 2020 to March 2023. From 2014 to 2020, Mr. Fagerstal served as Chairman &Chief Executive Officer of Global Marine Holdings LLC, which was the prior owner of the business. He served as an Independent Director of Frontier Oil Corporation, Manila, Philippines, from 2014 to 2017. Mr. Fagerstal previously held the positions of Senior Vice President, Finance &Corporate Development from 2003 to 2014 and Vice President Finance &Treasurer from 1997 to 2003 at SEACOR Holdings Inc. Mr. Fagerstal held the positions of Executive Vice President, Chief Financial Officer and Director of Era Group Inc. from 2011 to 2012 and was the Senior Vice President, Chief Financial Officer, and Director of Chiles Offshore Inc. from 1997 to 2002. From 1986 to 1997, Mr. Fagerstal served as a senior banker at DNB ASA in New York with a focus on the maritime and energy services industries, and before he started his business career, Mr. Fagerstal served as an officer in the Special Air Service unit of the Swedish Special Forces from 1979 to 1983. Mr. Fagerstal received a B.S. in Economics and Law from the University of Gothenburg and an M.B.A. in Finance from New York University, as a Fulbright Scholar. Recent Insider Transactions • Mar 23
Independent Director recently bought Mex$20m worth of stock On the 17th of March, Robert Robotti bought around 27k shares on-market at roughly Mex$749 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought Mex$7.3m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 01
Full year 2022 earnings released: US$0.49 loss per share (vs US$3.15 loss in FY 2021) Full year 2022 results: US$0.49 loss per share (improved from US$3.15 loss in FY 2021). Revenue: US$647.7m (up 75% from FY 2021). Net loss: US$21.7m (loss narrowed 83% from FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Global Energy Services industry. Breakeven Date Change • Nov 17
Forecast to breakeven in 2023 The 3 analysts covering Tidewater expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$113.0m in 2023. Average annual earnings growth of 107% is required to achieve expected profit on schedule. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$0.12 (vs US$0.64 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.12 (up from US$0.64 loss in 3Q 2021). Revenue: US$191.8m (up 108% from 3Q 2021). Net income: US$5.38m (up US$31.6m from 3Q 2021). Profit margin: 2.8% (up from net loss in 3Q 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Global Energy Services industry. Board Change • Nov 01
High number of new directors Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. Reported Earnings • Aug 05
Second quarter 2022 earnings released: US$0.61 loss per share (vs US$0.72 loss in 2Q 2021) Second quarter 2022 results: US$0.61 loss per share (up from US$0.72 loss in 2Q 2021). Revenue: US$163.4m (up 82% from 2Q 2021). Net loss: US$25.6m (loss narrowed 13% from 2Q 2021). Over the next year, revenue is expected to shrink by 7.4% compared to a 20% growth forecast for the industry in Mexico. Board Change • Jul 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • May 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 